Bullish Rectangle Pattern

🔅A Bullish rectangle is a chart pattern formed when the price is bounded by parallel support and resistance levels.

🔅A rectangle exhibits a period of consolidation or indecision between buyers and sellers as they take turns throwing punches but neither has dominated.

🔅The price will “test” the support and resistance levels several times before eventually breaking out.

🔅In the case of a Bullish Rectangle chart pattern, the stop loss should be placed at the previous low of the pattern.

🔅The limitation for the target will be the previous resistance level which was formed before by the price action.